The above title is from an “Investors Business Daily” article. The Mercatus Center of George Mason University studied the cost of regulations, and put a price tag on them. In our country they cost $4 TRILLION. That cost is larger than the ENTIRE ECONOMIES of Germany, France, the U.K., Brazil, Italy…..
So what? We need regulations to protect lots of things. This is true, we shouldn’t be dumping cancerous chemicals into rivers, we should be protecting workers, we should be….. The problem is balance.
Income inequality is growing. Globalization has in fact brought much wealth to our country, it also brings challenges to a nation that has enjoyed a relatively blessed economic period since WW2. We must toughen up to compete, which we can do.
Businesses all over the world look at the practical, what can I do to compete, what must I do to compete. The “would like to” falls to the end of the line after “what I must do.”
We must evaluate the costs of regulations in the same light. What must we do is be sure those costs are reasonable so that our citizens have a chance to compete, internally and externally.
Progressive policies many times highlight needed reform. But the most progressive policy is to be sure the cost is bearable so the vast majority can find a job and have the pride of working so to raise a family.
Balance.